U.S. Markets closed

Newmont Goldcorp's (NEM) Q1 Earnings Beat, Sales Miss Estimates

Zacks Equity Research
Efficient cost-control measures boost Knight-Swift's (KNX) Q1 results amid sluggish trucking segment revenues.

Newmont Goldcorp Corporation NEM is engaged in the production of gold, the exploration for gold and the acquisition and development of gold properties worldwide.


Newmont Goldcorp’s adjusted earnings for the first quarter came in at 33 cents per share. The figure beat the Zacks Consensus Estimate of 26 cents.


Newmont Goldcorp reported revenues of $1,803 million, down around 0.8% year over year. The figure trailed the Zacks Consensus Estimate of $1,845.2 million.

Estimate Trend & Surprise History

Investors should note that the earnings estimate for Newmont Goldcorp for the first quarter has been going down over the past month. The company has beaten the Zacks Consensus Estimate in all the trailing four quarters with an average positive surprise of around 34.6%.

Key Developments to Note

Newmont Goldcorp expects attributable gold production of 5.2 million ounces in 2019.

The company also expects its all-in sustaining costs to be $935 per ounce for 2019. Costs applicable to sales expectation for gold is $710 per ounce.

The company’s attributable copper production forecast for 2019 is 45,000 tons.

Zacks Rank

Currently, Newmont Goldcorp has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Market Reaction

Newmont Goldcorp’s shares were up roughly 1.2% in the pre-market trading. It would be interesting to see how the market reacts to the results during the trading session today.

Check back later for our full write up on Newmont Goldcorp’s earnings report!

Radical New Technology Creates $12.3 Trillion Opportunity

Imagine buying Microsoft stock in the early days of personal computers… or Motorola after it released the world’s first cell phone. These technologies changed our lives and created massive profits for investors.

Today, we’re on the brink of the next quantum leap in technology. 7 innovative companies are leading this “4th Industrial Revolution” - and early investors stand to earn the biggest profits.

See the 7 breakthrough stocks now>>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Newmont Mining Corporation (NEM) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research